Financial and investment stewardship
Fairfield County’s Community Foundation is the third largest community foundation in Connecticut with total assets of $212 million as of January 31, 2019. Fairfield County’s Community Foundation merged with the Greater Bridgeport Area Foundation in 2008. Our combined history includes over $220 million in grantmaking to nonprofits in Fairfield County and beyond.
For the calendar year ended December 31, 2018, investment performance declined by 6.2% net of fees, underperforming our policy benchmark by 2.3%. However, the portfolio’s returns over the last 10 years were 8.4%, exceeding the policy benchmark by 0.6%.
The Community Foundation engages NEPC (New England Pension Consultants) to provide independent investment consulting advice to the Investment Committee, monitor investments and make recommendations for changes. Our long-term investment pool is diversified across equities, fixed income, opportunistic, hedged and private investments to provide strong investment results during positive and negative market periods.
- Investment Performance and Asset Allocation Summary, December, 2018 [pdf]
- Investment Performance and Asset Allocation Summary, June, 2018 [pdf]¨
- Investment Performance and Asset Allocation Summary, December, 2017 [pdf]
- Investment Performance and Asset Allocation Summary, December 2016 [pdf]
- Investment Performance and Asset Allocation Summary, December 2015 [pdf]
Each fund established at the Community Foundation reflects a donor’s trust in our ability to invest resources wisely.
The Investment Committee is responsible for determining the broad allocation of Community Foundation assets among various asset classes, the design of the investment structure for each asset class, the retention of investment managers and other professionals, and the monitoring of investment results.
Investment Committee Members
- John Bailey, Chair, Spruce Private Investors
- Kieran Cavanna, Old Farm Partners
- Steve Edwards, CFA, Morgan Stanley
- David Harmston, Albourne America
- Schuyler Heuer, Goldman Sachs
- John Suhler, Veronis Suhler Stevenson
When you establish a fund at the Community Foundation, you may elect from the following investment options:
- The Long Term Investment Pool
- The Money Market Pool
- The Balanced Index Fund
- The Social Impact Portfolio
- The Investment Advisor Program
- Investment Policy & Guidelines Summary
- Charitable Funds Investment Options
- Spending Policy for Fiscal 2019
- Investment Advisor Program
The Community Foundation employs financial controls across our financial and accounting operations to ensure that contributed funds are managed and protected. A Finance Committee of the board oversees Foundation budgets, investment activities and financial planning.
Finance Committee Members:
- Ed Ford, Chair
- Bob Eydt
- Clay Fowler
- Jennifer Hill
- Don Kendall
- Maya Tichio
The Community Foundation’s Audit Committee oversees the annual audit and tax filings, monitors accounting policies and practices, and oversees risk management for the Foundation. The chair of the audit committee oversees our Whistleblower Policy.
Audit Committee Members
- Bob Eydt, Chair
- Ralph DePanfilis, CPA
- Ed Ford
- Michelle Garvey